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Last Week In The Markets:
Oct 29, 2020

Major developed equity markets declined amid ongoing uncertainty over the size and timing of the next U.S. fiscal package, a global rise in COVID cases, and the impending U.S. presidential election. The U.S. dollar retreated, global government bond yields advanced, and commodity prices were mixed: oil prices waned amid sluggish global demand while gold prices edged slightly higher.  
The S&P/TSX Composite Index declined amid weakness in technology, industrials, and staples. Health care strengthened as cannabis stocks rallied. Canadian retail sales growth moderated in August as pent-up demand eased over the summer. Core inflation remained stable and below the Bank of Canada’s 2% target. 
The S&P 500 Index (C$) declined amid weakness in technology, staples, and REITs. Communications and utilities strengthened. Initial U.S. jobless claims fell to their lowest levels since March. Continuing claims continued to decline as well, but still remain elevated.
The MSCI EAFE Index (C$) declined amid weakness in health care and technology, while financials strengthened. Europe underperformed as the Eurozone’s Flash Composite PMI fell back into contraction territory hampered by a weaker services sector.
 

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